Intesa Investors Back Share Issue to Finance Monte Paschi Bid

Intesa Sanpaolo shareholders approved on an unspecified date the issuance of new shares to finance a 35.4 billion euro takeover bid for Banca Monte dei Paschi di Siena. The approval was granted at a shareholder meeting where the proposal received backing. Chief Executive Officer Carlo Messina has pursued the acquisition as part of a consolidation effort in the Italian banking sector.

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